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The opportunity to build

The opportunity to build

Financial Operations (FinOps) could be an emerging software category with a huge opportunity to rethink the way businesses manage their money. As a result, it is expected that a number of companies will build solutions.

Both payins and payouts can organise workflows into layers on top of the existing primitive workflows. These layers are:

  • Moving payments
  • Ledger/reconciliation to record payment entries and connect to the ERP.
  • Dashboard - the ability to see and search transactions
  • Intelligence - the ability to set alerts and catch errors.

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MORE IDEAS FROM THE SAME ARTICLE

  • Payouts send money outside of the business, such as bank wires and ACH, paying vendor invoices, creating transaction logs, etc.
  • Payins bring money into the business by accepting various payment methods, optimising payment routes and authorisation rat...

The tools that exist today for tracking and managing financial operations are outdated. Furthermore, payment complexity is increasing as businesses become global.

Building in this category requires building trust and reducing friction in the onboarding. The product needs to be highly reliable and likely needs to be added on top of existing products at first. Setup cannot be overly complex, as this is what the buyer wants t...

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